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Eskay Mining Corp Announces First Closing of Non-Brokered Private Placement

Toronto, June 4, 2018 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to announce that, further to its
press release dated May 11, 2018, it has closed the first tranche of its non-brokered private placement offering with the sale of 784,000 flow-through units (the “FT Units”) of the Company
at a price of $0.30 per FT Unit for $235,200 and 690,000 working capital units (“WC Unit”) at a price of $0.25 per WC Unit for $172,500 for aggregate gross proceeds of $407,700 (the
“Offering”). Eligible finders were paid cash finders’ fees of $4,500.

Each FT Unit comprises one (1) common share of the Company and one-half (½) of one (1) common share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to acquire
one (1) common share at a price of $0.40 until the earlier of (i) June 1, 2020 (the “Closing”); and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at
least $0.60 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing, the date which is thirty (30) days from the
Final Trading Day (the “Trigger Date”).

Each WC Unit comprises one (1) common share of the Company and one (1) common share purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to acquire one (1)
common share at a price of $0.40 until the earlier of (i) June 1, 2020; and (ii) the Trigger Date.

All securities issued pursuant to the Offering are subject to a statutory four month hold period expiring on October 2, 2018.

Eskay Mining Corp Announces Non-Brokered Private Placement and 2018 Exploration Plans

Targeting Nickel and Gold Along Border with Garibaldi Resources

Toronto, May 11, 2018 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) wishes to announce that it is commencing a private placement offering of up to 2,000,000 flow-through units (the “FT Units”) of the Company at a price of $0.30 per FT Unit for up to $600,000 and up to 2,000,000 working
capital units (“WC Unit”) at a price of $0.25 per WC Unit for up to $500,000 (the “Offering”) to fund its 2018 exploration.

Eskay is also pleased to announce the 2018 exploration plans for its Corey property, in NW BC’s famed Golden Triangle. At the conclusion of an extensive data review and reinterpretation, a highly effective and flexible exploration plan has been developed, with
contingencies for various outcomes at several stages.

The 2018 work will focus on the westernmost part of the Corey property, in a largely unexplored belt adjacent to Garibaldi Resources’ E & L nickel discovery (see attached figure). At its
southern end, this belt encompasses the Company’s Red Lightning prospect, in which drilling has returned up to 0.55% Ni over 10 m from magmatic sulphides hosted by mafic intrusive
rocks.

In the same area, a belt of quartz-sericite-pyrite altered volcanic rocks is coincident with an extensive Au-in-soil geochemical anomaly and a number of encouraging broad and locally highgrade
drill intercepts (e.g. 99.4 g/t Au over 1.5 m) and chip samples of up to 51.9 g/t gold. This is the partially-explored gold-rich C10-GFJ trend, within which a portion of the trend, bracketed
by some of the most encouraging drill and surface sampling results, remains untested.

Exploration will begin with a deep-imaging VTEM airborne geophysical survey, which has been employed to great effect by Garibaldi Resources. The survey will be flown over the length of the
prospective belt, encompassing our virtually unexplored western border next to Garibaldi Resources and Metallis Resources, and extending southeast over the Red Lighting Ni-Cu
Trend. An extensive ground-based field program will follow, consisting of prospecting, rock, soil, and stream sediment sampling, along with reconnaissance mapping. The work on the ground
will help to identify drill targets.

Each FT Unit comprises one (1) common share of the Company and one-half (½) of one (1) common share purchase warrant. Each full warrant (a “Warrant”) entitles the holder to acquire
one (1) common share at a price of $0.40 until the earlier of (i) two (2) years from closing of the Offering (the “Closing”); and (ii) in the event that the closing price of the common shares on the
TSX Venture Exchange is at least $0.60 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing, the date
which is thirty (30) days from the Final Trading Day (the “Trigger Date”).

Each WC Unit comprises one (1) common share of the Company and one (1) common share purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to acquire one (1)
common share at a price of $0.40 until the earlier of (i) two (2) years from the Closing; and the Trigger Date.

All securities issued pursuant to the Offering are subject to a statutory four month hold period and regulatory approval.

A Communication Agreement with the Tahltan First Nation is now in place, and Camp permitting is well underway. Overall, the outlined 2018 plans will leave us well poised for a highly effective
2019 season, with excellent drill targets based on solid geological, geochemical and geophysical data.

Charles J. Greig, P. Geo., a member of the Company’s Advisory Team, is a Qualified Person under the definition of National Instrument 43-101. Mr. Greig has reviewed and approved the
technical information in this press release.

For further information about Eskay Mining Corp. and detailed information about the above mentioned prospects, please see our corporate presentation titled “April 2018 Property Review
& Targeting” at http://eskaymining.com/files/Eskay-Mining-Corp-April-2018-Presentation-Final.pdf.

Eskay Mining provides update on Big Red Au-Cu-Mo-Ag System, Southwestern Extension of the Sulphurets Camp Porphyry Au-Cu Trend

Toronto, April 16, 2018 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV: ESK) (OTC-PK: ESKYF) (Frankfurt: KN7; WKN: A0YDPM) is pleased to announce an update to its ongoing targeting efforts for the 2018 exploration season. Further to its March 5, 2018 news release highlighting interpretations and exploration strategies for the Red Lightning and TV-Jeff zones (see http://eskaymining.com/index.php/category/news-releases), a review is presented herein of another high priority prospect, the Big Red zone porphyry Au-Cu-Mo-Ag target (Figure 1). As part of an ongoing exploration-focused review of data from the Company’s Eskay-Sulphurets Camp properties, exploration strategies are outlined below to advance this early- to mid-stage prospect.

Figure 1: Eskay Mining Corp.’s property with highlighted exploration targets (red stars), and
nearby mines and exploration plays.

 

Big Red Zone
While the Big Red zone has been known for some time as an exploration target, it was largely ice- and snow-covered until recently, and its true potential as a large-scale porphyry-style target only emerged during the present review. In the early 2010’s, retreating ice on the southeast flank of Unuk Finger revealed a deep red gossan that extends for over 1 km north-south and across several drainages. Prospecting in and around the gossan over the intervening years has returned highly anomalous Cu, Au, Ag and Mo values, with 61 grab samples averaging 0.11% Cu, 0.058 g/t Au, 1.8 g/t Ag and 0.035% Mo (Figure 2). In particular, a cluster of three intensely quartzsericite- pyrite (QSP) altered samples collected from a gossanous knoll near the northern end of the trend averaged 0.27% Cu, 0.090 g/t Au and 4.3 g/t Ag, with the best sample yielding 0.68% Cu, 0.124 g/t Au and 6.2 g/t Ag.

Figure 2: Aerial image of Big Red Zone, with rock and stream sediment samples highlighting Cu
values.

Limited geological data has been collected from the Big Red zone, but work in 2016 by the Company, along with regional mapping in the early 1990’s by the Mineral Deposit Research Unit at the University of British Columbia indicates that the Big Red zone occurs near the eastern contact of the Tertiary Lee Brant pluton, which intrudes Upper Triassic to Lower Jurassic stratified rocks (Figure 3). Previous work by the Company has also identified a smaller northerly elongate intrusive body of unknown age in this area, as is shown in fig. 3.

Figure 3: Geology of the Big Red zone (after Lewis et al, 2003) showing Cu anomalous grab
samples.

In 2006, an airborne geophysical survey (EM and magnetics) was flown by the Company along the trend which included Big Red, and it outlined a near-surface conductivity (EM) anomaly within an area of low total magnetic intensity that coincides directly with the anomalous surface samples (Figures 4, 5). This represents an excellent exploration target, with the magnetic low possibly explained by magnetite-destructive QSP alteration associated with an underlying porphyry system. Another expression of such a system may be the nearby northerly-trending intrusion of uncertain age. The EM response is interpreted to be the result of a conductive, sulfide-mineralized vein stockwork present at surface and may be an indication that the veins and sulphide system are continuous to depth. Surface samples collected from the Big Red zone indicate that host rocks are largely volcanic, which likely rules out the possibility that the EM anomaly is a result of conductive, graphitic sedimentary rocks.

Figure 4: Big Red zone with rock samples and EM (ZOff) conductivity anomalies (pink = high,
blue = Low).

Figure 5: Big Red zone with rock samples and Total Magnetic Intensity (pink = high, blue =
low).

One feature that is particularly notable about the Big Red porphyry system is that it lies directly along trend to the southwest from the nearby, world-class Au-Cu-Mo-Ag porphyry deposits in
the Sulphurets Camp, which are all associated with Early Jurassic intrusive rocks. Also of interest is the fact that several grab samples from the Big Red zone yielded highly anomalous tungsten values (five samples ranging between 1190 to 4790 ppm). While tungsten is not a significant component of the mineralization in the other Sulphurets Camp porphyry deposits, it does appear to be associated with Early Jurassic intrusive rocks farther to the south, near Hyder, where the Texas Creek pluton hosts scheelite-bearing veins that are cut by younger Tertiary intrusive rocks similar in age to the Lee Brant pluton (see https://pubs.usgs.gov/bul/1024f/report.pdf).

Work planned for this season at Big Red includes additional detailed geological mapping, with a focus on delineating zones of mineralization and alteration. This should provide an improved
framework for understanding and interpreting the nature and distribution of porphyry-style mineralization. It should also help to place the mineralization within the context of what is clearly becoming a well-established regional southwest-northeast trend of Au-rich porphyry centers, from Copper Belle on the northeast, south-southwesterly through Iron Cap, Mitchell-Snowfield, Sulphurets, Kerr, and now, perhaps, to Big Red (fig. 1). In addition to geological mapping, an IP survey over the known EM anomaly has been recommended and is being planned to help outline zones of chargeability and to provide increased confidence in targeting drilling. Charles J. Greig, P. Geo., a member of the Company’s Advisory Team, is a Qualified Person under the definition of National Instrument 43-101. Mr. Greig has reviewed and approved the technical information in this press release. For further information regarding Eskay Mining Corp.’s prospects and showings, see the Company’s corporate presentation titled “January 2018 Prospects Overview”.

 

Eskay Mining Reports on 2016 Fieldwork in the “Golden Triangle”

Toronto, October 17, 2016 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) is pleased to report on the results of the 2016 exploration program announced in the Company`s August 8, 2016 press release.  Eskay holds a very large (55,000 hectares) land position in a key part of the “Golden Triangle” of northwestern British Columbia. Eskay’s holdings, part of which are held in a joint venture (80% Eskay) (the “ESK-JV Claims”), consist of three separate blocks of claims (see figure below). The largest block stretches in a broad concave-east arc from the area of the past-producing Eskay Creek Mine on the north, southward down the west side of Seabridge Gold’s resource-rich KSM property (nearly 50 million ounces gold, 14 billion pounds Cu, and 250 million ounces Ag in Measured and Indicated Resource categories (0.54 g/t Au, 0.21% Cu, and 2.7 g/t Ag in approx. 2.9 billion tonnes. Source: Seabridge Gold Inc. website)) in the Sulphurets mining camp. The other holdings include the North Mitchell block (1200 hectares), which lies north of Pretivm Resources’ Brucejack-Snowfield property (nearly 35 million ounces gold and 120 million ounces silver in the Measured and Indicated Resource categories (Brucejack, VOK:  17.2 g/t Au and 15.0 g/t Ag in 16.4 million tonnes; West zone: 5.85 g/t Au and 267 g/t Ag in 4.9 million tones. Snowfield: 0.59 g/t Au, 0.10% Cu, and 1.72 g/t Ag in approx. 1.37 billion tones. Source: Pretivm Resources Inc. website)) and immediately east of Seabridge’s Fe Cap Au-Cu deposit (see figure).  The mineralization and resources hosted on the above properties are not necessarily indicative of the mineralization, if any, hosted on the Company’s properties.  The final piece of Eskay’s land-holdings, the New Eskay tenure (570 hectares), lies to the west of the northern end of the main property.

Proposed Drill Program Permitted

Eskay is pleased to announce that a plan is in place to systematically drill-test the highly prospective stratigraphy on its SIB Project, which lies immediately south-southwest along trend from the past-producing and very high value Eskay Creek mine (see figure below).  Permits are now in place for this proposed program, which would involve systematic deep drilling to target the southerly part of the Eskay trend, where stratiform-style high-grade Au-Ag mineralization was intersected in previous drilling.

Highlights of Fieldwork

On the southernmost part of the Corey Property, the 2016 fieldwork and sampling strongly suggests that rocks similar in age, lithology, and alteration to those hosting the Eskay Creek deposit not only underlie parts of Eskay’s 100% owned Corey block on the southwestern part of the property, as was previously known, but also underlie most of the area to the east and southeast of there, toward the Frank Mackie icefield, which has been regarded previously as being underlain by older rocks.  Very encouraging results were returned by preliminary soil and rock geochemical sampling in that area, east of Ted Morris glacier, including two strings of soil geochemical samples across 400 to 500 meters which all yield anomalous precious metals values, along with very strongly anomalous “pathfinder” elements such as As, Sb, Cu, Pb, Mo and Zn, which are characteristic of “Eskay-style” mineralization.

The North Mitchell block of Eskay’s ESK-JV Claims was mapped in 2016 and a number of rock and soil geochemical samples were also collected from this area. The block, which abuts the northern end of Pretivm’s Brucejack-Snowfield property and which lies immediately east of Seabridge Gold Inc.’s Fe Cap deposit, lies along a highly altered and very well-mineralized trend that links the Treaty Creek area on the northweast with the Kerr deposit on the southwest (see figure). In addition to Kerr, this trend encompasses Seabridge’s Sulphurets, Mitchell and Fe Cap deposits, and Pretivm’s Snowfield deposit.  At Treaty Creek, Tudor Gold Corp. recently announced results documenting impressively broad gold intersections in drilling.  Stratified rocks on the North Mitchell block are also very similar to those on the Brucejack property.  The style and intensity of quartz-sericite-pyrite alteration affecting latite flows and fragmental rocks outcropping at lower elevations along the margin of the Mitchell glacier on the south part of the block is similar to that associated with mineral deposits throughout the Sulphurets camp.  With the knowledge that this part of the stratigraphy plays a role in localizing alteration and mineralization on the Brucejack property, with the proximity of this block to the Fe Cap and Snowfield deposits, and with the fact that sampling of the altered rocks returned elevated gold values (up to 295 ppb Au), Eskay Mining is greatly encouraged by the results, observations, and interpretations in its field program.

Another focus for fieldwork was the Big Red area near the south end of the Eskay holdings, west of Ted Morris Creek. There, approximately 25 grab samples from very common quartz veins hosted in biotite-hornfelsed and variably quartz-sericite-pyrite altered volcaniclastic rocks consistently yielded very highly anomalous copper, molybdenum and tungsten values, with locally anomalous silver and gold. The geochemical signature, the extent of alteration and the density of veining all suggest that the area warrants follow-up exploration.

Future Plans

Permitting has been completed for a large-scale deep drilling program at the SIB, and Eskay plans to raise the money to drill this exploration target in 2017.  The other areas discussed above will also be the focus for work aimed at developing drill targets. On the North Mitchell block, the focus will be on an MT or deep-looking 3D Induced Polarization survey to help target mineralizing systems on Eskay’s North Mitchell block, north of Brucejack and east of Fe Cap.  On the southernmost Eskay tenures, north to the latitude of Sulphurets Creek and including much of the Corey property, further late-season reconnaissance prospecting, geochemical surveys, and mapping will be undertaken to better evaluate the potential for Eskay Creek-style mineralization in the Middle Jurassic felsic submarine volcanic stratigraphy; at the same time, vein-type mineralization in the Big Red area will be further assessed for its depth potential.

Eskay Mining Corp. maintains strict QA/QC protocols for all aspects of its exploration programs. This includes the systematic insertion of blanks and standards into each sample batch. Rock and soil samples were collected in individually labeled plastic and kraft paper bags respectively, and were shipped by transport and/or Greyhound bus in sealed woven plastic bags (rice bags) to ALS Minerals laboratory facilities in either Terrace or North Vancouver for processing. Analyses were performed in the ALS Minerals laboratory in Vancouver.  All samples reported in this release were assayed using certified and industry-standard assay techniques for gold, and multi-element geochemical packages for other elements and for over-limits. Au was analyzed by 30 to 50 gram fire assay with an atomic absorption finish, and other elements were analyzed by multi-element ICP, following multi-acid digestion.

Charles J. Greig, P. Geo., a member of the Company’s Advisory Team, is a Qualified Person under the definition of National Instrument 43-101.  Mr. Greig has reviewed and approved the technical information in this press release.

 About Eskay Mining Corp:

 Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario.  Eskay is an exploration company focused on the exploration and development of precious and base metals in British Columbia in a highly prolific, poly metallic area known as the Eskay Rift Belt located in the “Golden Triangle”, 70km northwest of Stewart, BC.  The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres). 

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

 For further information, please contact:

 Mac Balkam                                                                                                                            T: 416 907 4020

President & Chief Executive Officer                                                                        E:  macbalkam@aol.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

 

Completion of 2017 SIB Property drill program

Toronto, October 19, 2017 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) is
pleased to announce the completion of a 9,336 m, 12 hole diamond drill program on its SIB property.
SSR Mining Inc. (formerly Silver Standard Resources Inc.) (NASDAQ: SSRM) (TSX: SSRM) (“SSR
Mining”) has the option to earn a 51% undivided interest in the property by spending an aggregate of
$11.7 million in exploration expenditures over three years with an option to earn a further 9% undivided
interest by either delivering a preliminary economic assessment or completing an aggregate of 23,000
meters of diamond drilling (See April 26th, 2017 news release). The 2017 drill campaign was completed
by SSR Mining to satisfy its commitment to spend $3.7 million over the first year of the option. The
property under option to SSR Mining represents approximately 9% of the Company’s land package in
the Golden Triangle in British Columbia.

The drill program was designed to test for precious metals enriched massive sulphide mineralization and
prospective lithologies beneath the Coulter Creek Thrust Fault (CCTF), immediately south-southwest
along strike from Barrick Gold Corporation’s (“Barrick”) past-producing Eskay Creek mine. The CCTF
is a north-south trending, east dipping structure that separates Eskay rhyolite and interbedded
sedimentary rocks of the Salmon River Formation to the east, from Bowser Lake Group sedimentary
rocks to the west (figs. 1-3). Ten drill holes targeted CCTF footwall rocks, while two holes targeted a
potential northern extension of known mineralization in the CCTF hanging wall (LULU Zone). Holes
testing the CCTF footwall were drilled on 100-250 m centers over a strike length of approximately 1 km
on a north-south trend. Hanging wall holes were drilled off a single pad approximately 150 m to the
northeast of the LULU Zone. Bore-Hole-Transient-Electro-Magnetic (BHTEM), IP, magnetic and
optical televiewer surveys were performed upon the completion of drill holes.

All of the 2017 diamond drill holes targeting the CCTF footwall intersected Salmon River Formation
stratigraphy that bears strong lithologic similarities to those found on the Eskay Creek mine property,
down-section from Bowser Lake Group sedimentary rocks. Chlorite-sericite alteration consistent with
volcanogenic massive sulphide (VMS) footwall alteration was also present in every hole drilled, and
local sulphide-bearing veining was intersected in a number of holes (see Table 1 for highlights of the
drilling). The assays to date, although low grade, do show mineralizing systems are present (see Table
2). Once the remaining 50% of the assays are received and the geophysical data is analyzed, targeting
for next year’s drill program will be completed. Final results are expected midway through the fourth
quarter of 2017. Preliminary BHTEM interpretation has outlined a number of weak off-hole conductors,
all located to the west of the drill holes by 25-100 metres. These are likely hosted by prospective
rhyolitic or basaltic rocks of the Salmon River Formation. Details of each plate model are provided in
Table 1, and the BHTEM anomalies are illustrated in Figure 4.

The lithologic and stratigraphic data obtained during the 2017 drill program has greatly improved our
understanding of the footwall geology of the CCTF, and has helped to better constrain both the surface
location and sub-surface orientation of the fault. Lithological associations in the footwall, most notably
mafic pillows and interbedded spherulitic mudstone, overlying intensely silicified rhyolite, bear a strong
resemblance to rocks which host the nearby Eskay Creek deposit. These rock types are interpreted to
extend well beyond the limits of the area tested in the 2017 program, and in particular to the south and
west, and present promising and surprisingly shallow future exploration drill targets.

 

For full Press Release please click here